German regulator fines Nomura over Commerzbank disclosure breaches

Oct 20 (Reuters) - German financial regulator Bafin said on Tuesday it had fined Japanese investment firm Nomura Holdings €320,000 ($359,000) for failing to disclose voting rights in Commerzbank as UniCredit built its stake in the German lender.

• The regulator said Nomura did not submit voting rights notifications relating to Commerzbank in May and June

• Under German law, shareholders must notify the issuer and the regulator within four trading days if their voting rights reach certain thresholds

• If a shareholder does not comply, Bafin can impose a fine of up to €10 million or 5% of total revenue

• "Whilst we do not comment on the details of our interactions with regulators, the firm takes adherence to regulations seriously," a Nomura spokesperson told Reuters

• The company can appeal the administrative fine order, Bafin said

($1 = 0.8916 euros)

(Reporting by Emanuele BerroEditing by Ludwig Burger)